National Pension Commission (PenCom) has disclosed that the total number of Retirement Savings Account (RSA) Registrations as at 31 December 2020 is 9,215,788, this shows an increase of 17,313 for the Month of December 2020 compared to the 9,198,475 as at 30 November 2020.
PenCom did not disclose the breakdown of RSA Registration based on Age and Gender as at 31 December 2020. PenCom for a while now has not been disclosing the breakdown of RSA Registration based on Age and Gender, even in its Annual Report for 2019. In recent times, PenCom has only released the breakdown of RSA Registration based on Age and Gender for the quarter ended 30 September 2020. Also, PenCom did not release the monthly reports for RSA registrations as at 30 June 2019 to 29 February 2020, PenCom resumed the publication of the monthly report as at 31 March 2020 without the breakdown of RSA Registration based on Age and Gender.
We look forward to a time when the Regulator, National Pension Commission (PenCom) will release the monthly report for RSA Registrations per Fund, per Pension Fund Administrator (PFA) along with the breakdown based on Age and Gender. This will enable stakeholders and industry analyst measure PFA performance based on RSA registrations per Fund, along age brackets, sector and gender.
The total number of Retirement Savings Accounts (RSA) registrations month on month post Covid-19 lockdown was at par with the average for year 2019 as at September 2020 but the number has been gong down since then as reflected in the reports for the month of October, November and December 2020. See table below;
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